vrijdag, februari 05, 2010
Crumbling Europe?
he worry du jour is the Iberian peninsula — Spain and Portugal. Greece is at least temporarily set aside. Watch for Ireland and Italy to join the list at some point.The euro block may be solid at the core — France, Germany, the Netherlands — but it is vulnerable at the fringes. These countries are facing huge budget deficits and the difficulty of competing economically without devaluing their currency. If they had not joined the euro, the devaluations would have taken place some time ago. Now they cannot.
Read more >> | The New York Times
Labels: Euro zone, European Union
- posted by DD @ 11:31 a.m. Perma Link/Print
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